Open House This Sun feb 20! 1 - 4!

DREAM HOME ON THE GOLF COURSE...

Gorgeous 10 year old home with a huge gourmet kitchen, extensive use of granite, slate, marble, and hardwood.  

4 bedrooms plus an office that can be used as a 5th bedroom. Beautiful views of the hills and golf course. Downstairs bedroom and bath. Extraordinary opportunity to live in Eagleridge

Take a Visual Tour...

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Trust and Probate Sales

Step out of the rain and into this lovely open house...

THIS SUNDAY 1 - 4!

Are you looking for a large home with 4 bedrooms, a dining room, gas kitchen, family room, wood floors, air-conditioning, a first floor bedroom, private back yard, quiet street, not too old, in a convenient location, and under $700,000? It is possible to have it all, at this lovely home in the heart of Santa Clara. Just 20 years young and nicely dressed, this is beauty may be just what you are looking for. Come take a look! It is waiting for a new owner to enjoy all these creature comforts for the next 20 years.

Offered for $685,000

Open Sat 2/5/11

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Trust and Probate Sales

Open House This Saturday 1 - 4!

Are you looking for a large home with 4 bedrooms, a dining room, gas kitchen, family room, wood floors, air-conditioning, a first floor bedroom, private back yard, quiet street, not too old, in a convenient location, and under $700,000? It is possible to have it all, at this lovely home in the heart of Santa Clara. Just 20 years young and nicely dressed, this is beauty may be just what you are looking for. Come take a look! It is waiting for a new owner to enjoy all these creature comforts for the next 20 years.

Offered for $685,000

Open Sat 2/5/11

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Trust and Probate Sales

Can I Buy a Home in Sunnyvale Ca at an Auction?

Buying a Foreclosure

Question: The house next door to me has a notice of trustee sale on the door. Can I go to the auction and buy it?

Answer: That depends. If the owners of the house pay off what they owe before the trustee sale or if they declare bankruptcy there will not be a sale. However if they do not do anything then the home will go to public auction. In order to purchase at auction you would have to pay all cash, you do not get contingencies, and the title is not insured.  The first loan has to be paid off and if the house is worth less than the loan balance you would have to pay more for the home than it is worth.  If the home is being foreclosed by someone who has a junior lien, that is a second loan, or a lien against the home then the first lien holder needs to be paid off before any of the junior lien holders can have the property.  

It is generally a very risky proposition to purchase a home at public auction since there is no way to guarantee that you will have clear title. Even if you pay off the first lien holder there may be other liens against the property that you would become responsible for. The best thing to do is to wait until the bank repossesses a home, and then lists it with a realtor or sells it an auction with an auction company that allows a buyer to use a lender. There are not many auctions like this in Santa Clara County, but they do happen occasionally. It is more common for a foreclosed home to be listed on the MLS after the bank takes it back.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Trust and Probate Sales

Santa Clara County Short Sale: Wells Fargo is OK!

I have a listing for a beautiful home in Gilroy as a short sale. Indymac approved the short sell off of the first through their 3rd party negotiator Service Link.  Wells Fargo has had the file for 3 1/2 weeks now and the negotiator has said it looks fine with him and will recommend the upper management approve the short payoff with the 10% of the loan balance the first has offered.  He is not asking for a seller contribution or a deficiency judgment.  The upper management still needs to approve but he said it is incredibly unlikely they will go against his recommendation. So why do I think I was successful so far on this one.

It is not rocket science but there is a method to my madness:

1. First and foremost it is in the best interests of the banks/investors right now to approve this short sale.  If it wasn't I really do not believe there is much I could do to make it happen. i also believe it is often in their best interests so it is a great idea to try and not just let a house go to foreclosure.

2. I read the instructions, many times.  The banks and servicers tell me what they want to have submitted and I provide what they need.  When they lose it I re-submit and do not make a stink.  I check 24 hours after submittal to make sure they received everything. Wells Fargo will even check the file when you call and stay on hold while they check.

3. I am nice to people. It does not help the process in my opinion, if I yell and huff and puff. We are all trying to do a job here, and that is for me to help people in a bad situation and for the banks or servicers to get as much money re-couped for the bank.  In the case of a short sale those goals are usually in sync with each other. so if we take the attitude that I can help them and they can help me it is much easier and more fun to negotiate.

4. Wells Fargo kept this home equity line in house and did not sell it to an investor. My experience has been that dealing directly with a bank is easier than dealing with a third party investor.

So if you have a home in Santa Santa Clara or San Mateo Counties that you need to short sell, call, e-mail, or text and let mw show you how I can help.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E.  01191194

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Trust and Probate Sales

Why Hasn't My Offer For menlo Park Short Sale Been Submitted Yet?

Question: We wrote our offer over a week ago. Why hasn't the listing agent presented it yet? The offer has expired. Should we withdraw? Are they playing games and using this to get a better offer?

Answer: Good question. In our area if a seller or agent believes there are going to be multiple offers or wants to have multiple offers they will often set a date for offers and either not present any offers until that date, or keep presenting offers as they come in until that time.  In this case the short sale was listed right at market value, not below market in order to stimulate multiple offers, and the agent said offers will be presented as they are received.  The agent told me he had the flu and was not able to get together with the client. I spoke to him on the phone and he does sound very sick. He is not faking the illness. He is an independent broker with no agents working for him who could meet with the sellers. While this is not particularly convenient for us, I believe he is telling the truth.

Real estate transaction involve trust and are not always predictable. Sometimes you trust one of the parties is doing the right thing and they are not, but many times they are. This agent knows you wrote a great offer and are very likely to stick it out for the short sale process. 

So the bottom line is if you want the house you should hang in there and if you do not want the house withdraw the offer. But you have no control over what the agent does, what the lender does, or what the seller does. You need to do what you want and what is best for you and hope the other parties in acting in their best interests coincide with your best interests.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Trust and Probate Sales